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Loan Collection & Recovery Department -Mumbai Division
BBYO/BBYREG/MIR/SALE NOTICE/
/2023-2024
Date: 14/08/2023
SALE NOTICE
NOTICE FOR SALE OF MOVABLE PROPERTY ISSUED UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002, (Hereinafter referred to as Act) R/w SECURITY INTEREST (ENFORCEMENT) RULES, 2002 (hereinafter referred to as Rules).
Whereas the Authorized Officer of the Federal Bank Limited, under the Act issued a demand notice dated 10/01/2023 calling upon the borrowers and defaulters (1) Mr. Gulab Yadav, Son of Mr. Shree Ram Yadav, & (2) Mrs. Gyanti Gulab Yadav, Wife of Mr. Gulab Yadav, both at S N 39, R No. 1114, Sai Deep Chawl, Shriram Nagar, Near Dubey Hospital, Nallasopara East, Taluka Vasai, District Palghar, Maharashtra
Whereas the borrower’s having failed to repay the amount within the stipulated time, the Authorized Officer on behalf of the Federal Bank Ltd. has taken physical possession of the property described herein below in exercise of powers conferred under section 13(4) of the said Act read with rule 8 of the said Rules on 29thday of May 2023 by issuing a notice to the borrowers and general public and publication thereof in newspapers as contemplated under the said Act and Rules.
The undersigned hereby give notice to the borrowers/defaulters and general public that the Bank has decided to sell on 22/09/2023, the properties described herein below on “AS IS WHERE IS” “AS IS WHAT IS” & “WHATEVER THERE IS BASIS” under Rules 8 & 9 of the said Rules for realizing the dues of
Rs.21,97,316.00 (Rupees Twenty One Lakhs Ninety Seven Thousand Three Hundred and Sixteen Only) as on 22/09/2023 along with further interest, charges and cost thereon and thus the undersigned hereby invites tenders from interested parties for purchasing the property subject to the terms and conditions mentioned hereunder.
“While we call upon you to discharge your liability as above by payment of the entire dues to the Bank together with applicable interest, all costs, charges and expenses incurred by the bank till repayment and redeem the secured asset, within the period mentioned above, Please take important note that as per section 13(8) of the SARFAESI Act 2002, (as amended), the right of redemption of secured asset will be available to you only till the date of publication of notice for publication or inviting tenders from public or private treaty for transfer by way of lease, assignment or sale of the secured asset.”
Description of Hypothecated Movable Property
Hypothecation of brand new Mahindra Furio 16 D BS6 53 S HW 22, bearing Registration No. MH 48 CB 3306, Chassis No. MA1JACMWFN6A75916, Engine No. CMN4A96870, 2022 Model, Diesel, manufactured by Mahindra & Mahindra Limited in the year 2022 and registered with Deputy Regional Transport Office, Vasai, State of Maharashtra.
The Federal Bank Ltd. Loan Collection & Recovery Department – Mumbai Division, 134, 13th Floor, Joly Maker Chamber II, Nariman
Point, Mumbai – 400021 E-mail:mumlcrd@federalbank.co.in, Phone : 022 – 22022548 / 22028427
CIN: L65191KL1931PLC000368, Website: www.federalbank.co.in
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Terms and Conditions
10.No encumbrance in respect of the properties has come to the knowledge and information of the Bank. The Bank will not be held responsible for any charge, lien and encumbrance, taxes or any other dues etc. to the Govt. or anybody in respect of the movable property under sale. The other encumbrances and charges, if any should be cleared by the purchaser of the property/ies.
11.The Authorized Officer has the absolute right to accept or reject the bid/ all or any tender including the highest tender or adjourn/postpone the sale without assigning any reason. The decision of the Authorized Officer/Bank shall be final.
The Federal Bank Ltd. Loan Collection & Recovery Department – Mumbai Division, 134, 13th Floor, Joly Maker Chamber II, Nariman
Point, Mumbai – 400021 E-mail:mumlcrd@federalbank.co.in, Phone : 022 – 22022548 / 22028427
CIN: L65191KL1931PLC000368, Website: www.federalbank.co.in
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12.The buyers should satisfy themselves on the title, ownership and statutory approvals etc, before participation in the auction. The tender shall not be accepted if the bid is below the reserve price.
13.The intending purchasers can inspect the movable properties on 12/09/2023 between 11.30 am and 2.30 pm with prior appointment.
14.For the further details regarding other conditions of sale, the intending bidder may contact the undersigned.
15.The borrowers/guarantors named above shall treat this as notice of thirty days as stipulated in
Rule 8(6) read with Rule 9 of the said Rules and pay the secured debt in full to avoid sale of the secured properties.
Dated this the 14th day of AUGUST 2023 at Mumbai.
For The Federal Bank Limited,
Mr. Sandeep Jaysing Keluskar Associate Vice President (Authorised Officer under SARFAESI Act)
The Federal Bank Ltd. Loan Collection & Recovery Department – Mumbai Division, 134, 13th Floor, Joly Maker Chamber II, Nariman
Point, Mumbai – 400021 E-mail:mumlcrd@federalbank.co.in, Phone : 022 – 22022548 / 22028427
CIN: L65191KL1931PLC000368, Website: www.federalbank.co.in
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Disclaimer
The Federal Bank Limited published this content on 14 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2023 12:32:02 UTC.
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